Also helping banks: most of them have reported results. Not many of them were glorious, but decent news from J.P. Morgan and Wells Fargo, plus a sense that some of the nastiest news is in the rear-view mirror, is helping still-tender sentiment.

Bank of America is up 3.8%, Goldman Sachs is gaining 3.1%, Citigroup is up 2%, Wells Fargo is up 2%, Morgan Stanley is adding 2.5%, J.P. Morgan is up 2% and U.S. Bancorp, which reported strong earnings this morning, is up 4%.

European banks trading in New York are also having a strong day. HSBC is up 1.3%, Barclays is gaining 2.9%, Lloyds is up 3%, Royal Bank of Scotland Group is added 2.4%, Societe Generale is up 5.2%, Credit Agricole is up 4%, Credit Suisse is up 2.8% and UBS is up 3.3%.

The S&P 500 financial sector is best among the measure’s ten sectors, rising 1.2%. The S&P 500 is marginally lower.

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